Re-Leased raises US$12.5m to expand the use of its AI-powered commercial real estate software
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Good morning Caffeinators,
Happy Thursday!
Spring has sprung, the weekend is in sight and we’re back with our third Substack newsletter.
A heartfelt thanks to everyone who has donated or subscribed so far and for the kind messages of support. As you all know, launching a new thing takes work but hearing from you guys makes it all worthwhile.
Today we’re shouting out some spectacular startup successes, giving you a chance to pick our own founder’s brain and checking in on the global tech picture.
In short, Sam Altman is happy counting his money, Elon Musk is angry counting his daily users, and Jensen Huang is nervous opening his mail.
Sit back, relax and soak up some Caffeine with your coffee.
Finn & the Caffeine team
Re-Leased raises US$12.5m to expand the use of its AI-powered commercial real estate software. The round, led by Movac, will help Re-Leased expand its AI tool Credia, which reduces repetitive property management tasks from 5-6 minutes to just 30 seconds. With 1,400 users and a rent roll of $7.5 billion, Re-Leased is revolutionising how property managers operate their businesses. Read more.
National Capital’s latest KiwiSaver value for money report: $244 billion projected in ESG investments. Over one million Kiwis, or 39% of KiwiSaver members, have invested in ESG (Environmental, Social, Governance) funds, with a projected retirement value of $244 billion. Read more.
Aotearoa's finalists for the first-ever Startup World Cup have been announced. The winner will be flown to San Francisco for the global competition, hosted by Pegasus Tech Ventures in October 2024. The global champion will take home a US$1 million investment prize. Congratulations and best of luck to all the finalists. Read more.
OpenAI approaches money milestone: The world’s most influential A.I company is closing in on a $100b valuation, according to the Financial Times. Apple and Nvidia are reportedly in talks for this round for the first time, alongside Open AI’s existing partner Microsoft. Would be a titanic trio of backers, if Sam Altman pulls this off.
Bluesky soars as X sinks: A viable alternative to the platform formerly known as Twitter might actually be happening. TechCrunch reports Bluesky added more than 2 million new users over the past four days, up from only half a million as of Friday and following X’s banning in Brazil. Start the countdown for a new meltdown from Musk.
Nvidia in DOJ crosshairs : The good times couldn’t last forever over at Nvidia, as its market dominance draws the ire of US antitrust regulators. Bloomberg reports the Justice Department’s investigation is ‘escalating’, with legally binding subpoenas issued to the chip maker.
Introducing ‘Ask a Founder’ – Real Answers to Your Burning Startup Questions.
We know building a startup can be bloody hard—and sometimes, it feels lonely. That’s why we started CAFFEINE. Now, we’re launching ‘Ask a Founder,’ where you can ask experienced founders about your toughest challenges. First up, our very own founder James Hurman is in the hot seat. Having founded Caffeine, Previously Unavailable and the Master of Advertising Effectiveness, and co-founded Tracksuit and AF Drinks, James can answer your questions on getting started, designing your product, finding product-market fit, developing your story and creating your brand. Send us your questions at hello@caffeinedaily.co We’ll share the first answers next week, and you can stay anonymous if you prefer. Founders, anyone prepared to take the seat next?
Shout out to Sharesies
Last night, at two separate events, the Sharesies Operations team won the Financial Services Council New Zealand Team of the Year Award and also won the Best Overall Marketing Campaign at the Marketing Association awards for their Save launch.
”We love seeing the team get recognised. It’s hard work creating the new and turning the complex financial system into loveable experiences for our customers 💖” ~ Sharesies Co-Founder, Co-CEO and Director, Brooke Roberts.
Kia pai mai e hoa mā!
